Macquarie puts USD 200m in California energy storage project by AMS

California-based firm Advanced Microgrid Solutions (AMS) said Monday a unit of Macquarie Group (ASX:MQG) has agreed to provide project capital for a USD-200-million (EUR 180.5m) energy storage scheme.

Macquarie Capital will support AMS in establishing a distributed fleet of advanced energy storage facilities at commercial, industrial and government host sites.

“The next decade is likely to see huge changes in the mix of energy consumed across the globe, and we see energy storage rapidly emerging as a growth market in the next generation of energy infrastructure,” said Rob Kupchak, Head of US Power, Utilities and Renewables for Macquarie Capital.

The first AMS projects will provide 300 MWh of capacity and demand management for utilities and commercial, industrial water and university customers in the West Los Angeles Basin service territory of Southern California Edison (SCE). The latter will be buying capacity from AMS’ fleet under 10-year capacity contracts to provide load reduction services as part of SCE’s plan to modernise the grid by 2022.

The energy storage systems offer utility grid services, such as flexible and reserve capacity, solar integration and voltage management, and also provide retail energy services such as demand management, back up generation and enhanced power quality.

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